ACELYRIN Announces Appointment of Patrick Machado, JD to Board of Directors
LOS ANGELES, June 10, 2021 /PRNewswire/ -- ACELYRIN, INC., a biopharma company focused on providing patients life-changing new treatment options by identifying, acquiring, and accelerating development and commercialization of promising drug candidates, today announced the appointment of Patrick (Pat) Machado, JD to its board of directors. Mr. Machado has more than two decades of experience growing biopharmaceutical organizations from development through commercialization. He has extensive operational experience, having led finance, business development, and legal functions at multiple companies.
"I am delighted to welcome Pat to the ACELYRIN board of directors. With a highly successful career as both a corporate executive and board member of numerous companies, he has helped many biotech companies create substantial growth and value. Having served with Pat as independent board members of Principia Biopharma until it was acquired by Sanofi, I have seen firsthand his business acumen and strategic guidance in navigating young companies. His insights and perspectives will be of tremendous benefit as ACELYRIN pursues its vision of becoming a leader in bringing new life-changing medicines to patients with serious diseases sooner," said Shao-Lee Lin, MD, PhD, co-founder and chief executive officer of ACELYRIN.
"ACELYRIN has the potential to transform the landscape of drug development, and I am thrilled to join the Company's board," said Mr. Machado. "I look forward to working alongside my fellow board members and ACELYRIN's founders and leadership team by applying my broad expertise to help ACELYRIN achieve its mission of building a sustainable company with a pipeline that has the potential to be truly meaningful to patients suffering from serious diseases."
Mr. Machado currently serves on the boards of Adverum Biotechnologies, Inc., Turning Point Therapeutics, Chimerix Inc., Roivant Sciences Ltd., Xenon Pharmaceuticals, Turnstone Biologics, and Arcus Biosciences. He was a director of Endocyte prior to its acquisition by Novartis; Principia Biopharma before its acquisition by Sanofi; and Therachon prior to its acquisition by Pfizer. Over the years, Mr. Machado has served as director for a total of 15 public and private biotech companies, with roles including chairing boards, audit, and compensation committees.
Mr. Machado has extensive expertise in the biotechnology and biopharma industries spanning a multitude of areas including executive management, mergers and acquisitions (M&A), negotiations of joint ventures, equity investments, technology licenses, R&D agreements, IPOs and follow-on offerings, and reimbursements from health plans. He was co-founder, chief business and financial officer, and board member of publicly held Medivation, Inc., where was responsible for numerous staff functions and helped lead the company through many changes en route to it being acquired by Pfizer for $14.3 billion in 2016. During his tenure as an executive, the company grew from two to more than 400 employees and from a market cap of about $12 million to $6 billion in 10 years. Earlier, he served as senior vice president, finance and business development, chief financial officer, and general counsel of Pro-Duct Health, Inc., a medical device company. Before that, he was division corporate counsel for Chiron Technologies at Chiron Corporation.
Mr. Machado's highly successful biotech journey began in the corporate finance department as an attorney at Morrison and Foerster LLP following his graduation with a Juris Doctor degree from Harvard Law School. He also holds bachelor's degrees in economics and German from Santa Clara University, where he was a member of Phi Beta Kappa.
ACELYRIN, INC. is a biopharma company focused on providing patients life-changing new treatment options by identifying, acquiring, and accelerating development and commercialization of promising drug candidates and leveraging its expertise to rapidly advance these medicines to patients. With an initial focus on immunology, ACELYRIN is building a long-term, sustainable biopharma with a pipeline that has the potential to be truly meaningful to patients with serious diseases. For more information, please visit www.acelyrin.com.